Palantir won a three-year contract with the FDA

Palantir won a three-year contract with the FDA

The company's stock jumped amid news development

According to Bloomberg's data, Palantir has recently won a three-year contract with the US Food and Drug Administration. According to the report, the deal is worth $44.4 million. Following the agreement, Palantir will perform drug reviews and inspections.

The deal comes after Palantir had a great Q3 2020 earnings report. Its first report since it became a publicly traded company showed that its revenue grew by 52% to $289 million, topping the $279.3 million consensus. The governmental deals brought Palantir more than $163 million in the past quarter.

In Q4, Palantir is looking for revenues of $300 million, while the market has predicted $296 million.

Following the news, Palantir stock price added 21%. Since September 30, when it went public, its shares jumped 200%.

Read here about how Palantir has performed in Q3!

Sources: cnbc.com, reuters.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.